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Online Searches for Fuel-Efficient Vehicles Decrease as Gas Prices Drop
3 August 2007
As gas prices begin to fall, so does US consumer interest in fuel-efficient vehicles, according to the latest Cars.com Consumer Search Index.
Cars.com is reporting a decline in searches for hybrids and other fuel-efficient cars, all of which saw dramatic increases over the last several months when gas prices were at all-time highs.
This is fairly consistent with what we’ve experienced in past years with the ebb and flow of gas prices. As gas prices decline, we are starting to see people searching for crossover vehicles and some SUVs. We have yet to see a sustained movement away from gas-guzzlers. Instead, we find that consumers are reacting to current prices at the pump when it comes to their automotive search and buying behavior.
—Patrick Olsen, managing editor of Cars.com
Keeping with manufacturers’ reports of strong crossover sales, GM’s trio of crossover-vehicles—the Buick Enclave, Saturn Outlook and GMC Acadia—all made the list of cars experiencing a large increase in the amount of search activity last month. Cars.com expects that crossover vehicles as a category will continue to generate interest on the site in the coming months.
August 3, 2007 in Brief | Permalink | Comments (5) | TrackBack (0)
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Comments
...People and their short memories...
Wishful thinking's a b*tch. Wait until the latest round of crude oil price increases work their way through the pipeline.
Posted by: BlackSun | Aug 3, 2007 8:36:17 AM
Yes, its a bit strange given the latest crude prices. What's the typical lag time between crude and pump price changes?
Posted by: marcus | Aug 3, 2007 10:16:53 AM
I hate to have to pay 3 dollars a gallon for fuel even though my vehicle gets between 32 and 40 mpg, but I think gas prices should be around 4-5 dollars a gallon, then people might change their gas guzzling habits.
Posted by: lane | Aug 3, 2007 12:41:43 PM
Of course. Just keep ratcheting up, then pulling back 80% of the way, then ratchet it a little higher. Make sure the price swing down is fast. Give people a relief. Make them feel lucky to be paying $2.85/gallon. Rinse, repeat.
Pavlov was right.
Posted by: jack | Aug 3, 2007 1:00:35 PM
Amazing to read how close we (still) are to our pocket book and addictions. We don't care much about environment, OIL import, oil wars etc. We quickly go back to our acquired addiction ... 'bigger is better and safer'... as soon as gas price goes down.
Posted by: | Aug 4, 2007 2:31:00 PM
